🤝 Akur8 partners with Sapiens to empower insurers with next generation pricing capabilities
PARIS - LONDON - NEW YORK - 1st of September
Akur8, an AI-based SaaS pricing solution company, and Sapiens International Corporation, a leading global provider of software solutions for the insurance industry, announced the two organizations have entered into a strategic partnership to empower property & casualty (non-life) insurance carriers with next generation pricing capabilities. This global alliance will bring increased speed, accuracy, and transparency to the pricing processes of Sapiens’ clients.
Through its unique, cloud-based platform, Akur8 leverages proprietary Transparent AI algorithms to automate the insurance ratemaking process, while maintaining full transparency and control of the models created. Akur8 offers end-to-end ratemaking capabilities to property and casualty (non-life) insurers, MGAs, and insurtechs. As part of the alliance, Sapiens considers integrating Akur8 in their P&C Insurance Solutions- an agile, modular, end-to-end solution that supports advanced automation capabilities and facilitates digital transformation.
“At Sapiens, we are convinced that Akur8 is setting the right foundation for the future of ratemaking in the P&C insurance space. Offering Akur8’s state-of-the-art AI-based pricing solution together with Sapiens’ P&C Insurance Solutions will bring substantial value-add to our P&C clients looking for an end-to-end rate-making solution to accelerate their digital transformation. We continue to expand our partnerships around the world to provide new business capabilities to accelerate digital transformation in P&C. We are very pleased that Akur8 joins our expansive partner ecosystem,” said Amanda Ingram, Propositions, Alliances & Ecosystem Manager of Sapiens.
“Akur8 is thrilled to join forces with Sapiens, a leading and truly innovative global provider of insurance software solutions. By combining our leading edge capabilities, we can deliver a strong actuarial value proposition to P&C insurers — leveraging our state-of-the-art AI-based pricing platform and Sapiens’ top-notch digital transformation expertise,” said Samuel Falmagne, CEO at Akur8.
Akur8 is revolutionizing insurance pricing with Transparent AI, boosting insurers’ pricing capabilities with unprecedented speed and accuracy across the pricing process without compromising on auditability or control.
Our modular pricing platform automates technical and commercial premium modeling. It empowers insurers to compute adjusted and accurate rates in line with their commercial strategy while materially impacting their business and maintaining absolute control of the models created, as required by regulators worldwide. With Akur8, time spent modeling is reduced by 10x, the models’ predictive power is increased by 10% and loss ratio improvement potential is boosted by 2-4%.
Akur8 already serves 45+ customers across 20+ countries, including AXA, Generali and Munich Re; specialty insurers Canopius and Tokio Marine Kiln; insurtechs Wakam and wefox; and mutual insurer Matmut. 700 actuaries use Akur8 daily to build their pricing models across all lines of business.
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